Tax Planning & Compliance

All Topics

Janice O’Reilly Discusses Financial Strategies for Cannabis Industry at MJ Unpacked

Janice O’Reilly Discusses Financial Strategies for Cannabis Industry at MJ Unpacked

At the 2024 MJ Unpacked event, held November 5-7 in St. Louis, Missouri, AAFCPAs’ Janice O’Reilly, CPA, CGMA, Partner shared valuable insights with Highly Capitalized Network on navigating the complex financial landscape of the cannabis industry. MJ Unpacked is the nation’s only cannabis industry trade event with exclusive attendance for licensed operators, researchers, and investors. […]

Federal Court Temporarily Halts BOI Reporting Requirements

Federal Court Temporarily Halts BOI Reporting Requirements

A federal district court in Texas has issued a nationwide preliminary injunction halting enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements. The ruling, issued on December 3, 2024, found that the CTA likely exceeds Congress’ constitutional authority and temporarily suspends the January 1, 2025, reporting deadline for businesses. […]

Maximizing Cash Flow in the Cannabis Equity and Debt Market: Strategies for Success

Maximizing Cash Flow in the Cannabis Equity and Debt Market: Strategies for Success

In today’s challenging equity and debt market, operators must maximize cash flow through operational efficiency, tax strategy, and effective reporting. At the recent Benzinga Cannabis Capital Conference, speakers and attendees talked extensively about the constantly changing market landscape and emphasized that staying ahead demands strategic planning and execution. Cannabis Capital RaisesAccording to the Viridian Deal […]

Top Takeaways From Our 2024 Business Tax Planning Webinar

Top Takeaways From Our 2024 Business Tax Planning Webinar

In this article: Tax planning is an essential part of business strategy, especially as we approach year-end. During AAFCPAs’ recent Business Tax Planning webinar (October 2024), speakers discussed topics that affect U.S. privately held businesses across federal, state, and international tax landscapes. This session highlighted credits, deductions, compliance challenges, and strategies that could benefit businesses […]

Top Takeaways From Our 2024 Tax Planning & Wealth Preservation Webinar

Top Takeaways From Our 2024 Tax Planning & Wealth Preservation Webinar

In this article: Strategic tax planning preserves wealth and ensures a lasting legacy. During AAFCPAs’ recent Individual/Family and Wealth Preservation webinar (October 2024), Jonathan Bloom, CFP®, AIF®, Joshua England, LLM, Esq., Richard Weiner, CPA, MST, CM&AA, Daniel Seaman, CPA, and Tyler Champagne, CPA, MSA shared wealth preservation insights including strategies to help optimize your tax […]

IRS Releases 2025 Tax Inflation Adjustments

IRS Releases 2025 Tax Inflation Adjustments

The IRS announced tax adjustments affecting its 2025 standard deductions, tax rates, credits, and more. These changes, detailed in Revenue Procedure 2024-40, touch on more than 60 provisions aimed at helping taxpayers prepare for the 2026 tax season. Several adjustments are broadly relevant: Other areas also see adjustments. For Medical Savings Accounts, deductible limits increase […]

1099 Reporting: Key Deadlines and Requirements for 2024

1099 Reporting: Key Deadlines and Requirements for 2024

In this article: 1099 Reporting Requirements AAFCPAs reminds clients that payments exceeding $600 made to non-employees, including contractors and other service providers, must be reported to the IRS using Forms 1099. If your business hired consultants in 2024, paid dividends, or managed a complex debt structure involving independent contractors, you may face penalties if 1099 […]

Estate Tax Alert: Protecting Assets from the 2026 Exemption Reduction

Estate Tax Alert: Protecting Assets from the 2026 Exemption Reduction

AAFCPAs advises clients to consider proactive strategies to shield their assets now from steep tax liabilities should the estate tax exemption be left to decrease to $7 million on January 1, 2026. Now is the time for high-net-worth individuals to consider wealth transfer and gifting strategies that can help you maintain control while also locking […]

Secure Your 2024 Tax Savings – Watch Our Cannabis Tax Webinar

Secure Your 2024 Tax Savings – Watch Our Cannabis Tax Webinar

Webinar: Tax Planning for Cannabis Operators  AAFCPAs invites you to watch our 2024 Tax Planning for Cannabis Operators webinar. This session is designed to help cannabis business owners navigate the complexities of 280E and maximize tax efficiency.  Details: Explore tax considerations unique to the cannabis industry, including the ‘taxing’ 280E, with guidance on navigating regulations […]